Dáil Éireann Debate, Wednesday - 3 June 2020
413. Deputy Éamon Ó Cuív asked the Minister for Business, Enterprise and Innovation when the details of the restart fund for micro and small business of €250 million will be available; the reason the scheme was announced before application forms and details were available; and if she will make a statement on the matter. [8951/20]
View answerOn Friday, 15 May, 2020, the Government decided to establish a new €250m Restart Grant providing direct grant aid to micro and small businesses to help them with the costs associated with reopening following COVID-19 closures.
The Restart Grant support is one part of the Government's wider €12bn package of supports for firms of all sizes, which includes the wage subsidy scheme, grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs.
The grant is being administered by the local authorities. The online Application Form and Frequently Asked Questions Document went live from Friday 22 May.
Eligible businesses who have stayed open throughout the crisis, as well as those who are reopening under Phase 1 (from 18 May) and Phase 2 (8 June) of the Government’s Roadmap for Reopening Society and Business, are encouraged to apply first for the Restart Grant. These applications will be prioritised for payment by the local authorities.
To avail of the Restart Grant, applicants must be a commercial business and be in the Local Authorities Commercial Rates Payment System and:
1. have an annual turnover of less than €5m and employ 50 people or less;
2. have suffered a projected 25%+ loss in turnover between 1 April and end June 2020;
3. commit to remain open or to reopen if it was closed;
4. declare the intention to retain employees that are on The Temporary Wage Subsidy Scheme
For any further queries, local businesses can contact the Business Support Unit in each local authority.
